Venezuela's PDVSA ratifies Asdrubal Chavez as head of US units including Citgo

CARACAS, March ‌17 (Reuters) - The ​board ​of directors of Venezuela's state-run PDVSA this week ratified ‌Asdrubal Chavez as head of the ⁠oil company's U.S. subsidiaries PDV Holding, Citgo ‌Holding and Citgo Petroleum, ‌a document seen by Reuters showed, a decision that follows U.S. ​President Donald Trump's support of interim President Delcy Rodriguez's administration.

Chavez had ⁠been denied a U.S. visa to run Citgo before ​U.S. sanctions were imposed on the country in 2019. He ​and his team would ‌now need clearance from the U.S. Treasury Department to ⁠take over the refining company, whose ownership could change if the Treasury approves ⁠the results of the U.S. court-organized auction ​of its parent, PDV Holding.

If was not immediately clear if Rodriguez is seeking a new ‌U.S. authorization for Chavez and his team to run ‌the subsidiaries.

Nelson Ferrer, Alejandro Escarra and ⁠Ricardo Gomez ‌were also appointed ​directors of the subsidiaries.

(Reporting by Deisy Buitrago, Editing by Marianna ‌Parraga)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Two Saudi tankers struck in Strait of Hormuz Monday
• Russia, US see grounds for financial ties, Russian finance minister says
• Bond selloff deepens as inflation, oil prices jolt markets